Global $312.42Mn Hemodynamic Monitoring Market by 2024 - Getinge Group, Koninklijke Philips, Edwards Life Sciences Corporation, GE Healthcare, and LiDCO Group Hold Substantial Shares - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 19, 2019--The “Hemodynamic Monitoring Market - Growth, Trends and Forecast (2019-2024)” report has been added to ResearchAndMarkets.com’s offering.
The global hemodynamic monitoring market was valued at USD 249.06 million in 2018, and is estimated to be valued at USD 312.42 million in 2024, witnessing a CAGR of 3.85%.
The key factors propelling the growth of this market are increase in the number of critically ill geriatric cases, rise in the prevalence of cardiac disorders and diabetes, increasing demand for home-based and non-invasive monitoring systems, advances in technology, due to funding by private players and government bodies, and increase in the number of people suffering from hypertension.
Key Market Trends
Minimally Invasive Monitoring Systems is Expected to Hold the Highest Market Share in the System Segment
In the system segment of the market, minimally invasive monitoring systems are believed to have the largest market size and are expected to witness a CAGR of 8% during the forecast period.
The minimally invasive systems help in tracking stroke volume continuously and offer dynamic information of fluid responsiveness. Some of the systems provide the assessment of volumetric preload variables, while others highlight the continuous measurement of central venous saturation with proprietary catheters. These variables of minimally invasive systems, along with cardiac output, deliver improved hemodynamic monitoring.
There is a recent advancement in echocardiography device known as a transesophageal echocardiography device with a miniaturized probe, which is now used for continuous hemodynamic assessment. These monitoring systems have made hemodynamic calculations easier, which has gained the attention of healthcare providers, thus, resulting in the growth of the market.
North America Dominates the Market and is Expected to do the Same in the Forecast Period
North America currently dominates the market for hemodynamic monitoring and is expected to continue its stronghold for a few more years. The United States holds the largest share of the global hemodynamic monitoring market. The growth of the US hemodynamic monitoring market is the most notable, owing to the presence of major market players, technologically advanced hospitals, and an increasing number of critically ill patients being treated in hospitals of the region. In 2016, Cheetah Medical Inc. received FDA approval for Starling SV’, a non-invasive hemodynamic monitoring system.
With increasing FDA approvals for monitoring devices and new product launches, the US hemodynamic monitoring market is expected to grow during the forecast period.
The hemodynamic monitoring market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by introducing new devices with fewer prices.
Companies like Getinge Group, Koninklijke Philips, Edwards Life Sciences Corporation, GE Healthcare, and LiDCO Group, hold substantial shares in the market.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Critically Ill Geriatric Population
4.2.2 Rise in the Prevalence of Cardiac Disorders and Diabetes
4.2.3 Increasing Demand for Home-based and Non-invasive Monitoring Systems
4.2.4 Advances in Technology due to Funding by Private Players and Government Bodies
4.2.5 Increasing Number of People Suffering from Hypertension
4.3 Market Restraints
4.3.1 Increasing Incidences of Complications Associated with Invasive Monitoring Systems
4.3.2 Stringent FDA Guidelines for Approval of New Systems
4.3.3 Precision of CO Determinations Adversely Affected Under Low Flow Conditions
4.4 Porter’s Five Forces Analysis
5 Market Segmentation
5.1 By System
5.1.1 Minimally Invasive Monitoring Systems
5.1.2 Invasive Monitoring Systems
5.1.3 Non-invasive Monitoring Systems
5.2 By Application
5.2.1 Laboratory-based Monitoring Systems
5.2.2 Home-based Monitoring Systems
5.2.3 Hospital-based Monitoring Systems
5.3.1 North America
5.3.4 Middle East & Africa
5.3.5 South America
6 Competitive Landscape
6.1 Company Profiles
6.1.1 LiDCO Group PLC
6.1.2 Cheetah Medical Inc.
6.1.3 ICU Medical Inc.
6.1.4 Tensys Medical Inc.
6.1.5 Schwarzer Cardiotek GmbH
6.1.6 Koninklijke Philips N.V.
6.1.7 Edwards Lifesciences Corporation
6.1.8 Getinge Group
6.1.9 GE Healthcare
6.1.10 Draeger Medical
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/d8twrr/global_312_42mn?w=4
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Related Topics:Cardiovascular Devices,Intensive Care and Emergency Medicine ,Patient Monitoring Equipment
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY GENETICS DIABETES
SOURCE: Research and Markets
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PUB: 03/19/2019 09:31 AM/DISC: 03/19/2019 09:31 AM